• 253 days Will The ECB Continue To Hike Rates?
  • 253 days Forbes: Aramco Remains Largest Company In The Middle East
  • 255 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 655 days Could Crypto Overtake Traditional Investment?
  • 660 days Americans Still Quitting Jobs At Record Pace
  • 662 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 665 days Is The Dollar Too Strong?
  • 665 days Big Tech Disappoints Investors on Earnings Calls
  • 666 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 668 days China Is Quietly Trying To Distance Itself From Russia
  • 668 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 672 days Crypto Investors Won Big In 2021
  • 672 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 673 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 675 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 676 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 679 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 680 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 680 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 682 days Are NFTs About To Take Over Gaming?
U.S Targets Russian Gold Stockpiles

U.S Targets Russian Gold Stockpiles

In its latest round of…

Could This Be The Most Exciting Lithium Play Of 2021?

Could This Be The Most Exciting Lithium Play Of 2021?

This Nobel Prize-winning breakthrough is…

  1. Home
  2. Commodities
  3. Precious Metals

How Bernie Sanders Could Send Gold To $2,000

Bernie Sanders Gold

Bernie Sanders has gained in the polls of late and only trails Joe Biden by about three percentage points, according to the latest Fox News poll. On top of that, Sanders matches up against President Trump. He leads 48 percent to 42 percent in a head-to-head matchup.

Peter Schiff told Fox Business that said a Sanders presidency would be an economic disaster for the US, but it would be good for gold.

"If Sanders becomes president in 2020, the price of gold will be well above $2,000 on the day after election night.”

(Click to enlarge)

In fact, Peter said gold could rise to $2,000 before the election if the market thinks Sanders is going to win.

Peter projected what a Sanders presidency would look like.

What a Sanders win means is much bigger government deficits, and much more money printing by the Fed because there is no way to finance all of the spending that will happen with tax hikes on the rich. We’ll get tax hikes on the rich, but they’re not going to provide the revenue to pay for the programs.” Related: Five Energy ETFs Flying Under Investors' Radars

The federal budget deficit is on track to cross $1 trillion in fiscal 2020. That’s only happened four times in US history, all in the wake of the 2008 crash. Peter said the budget deficits would get even bigger with Sanders in the White House.

There is gonna be no Republican opposition to the deficits that would finance the spending because after all, the Republicans didn’t object to record deficits under Trump when the economy was supposedly the greatest ever. The deficits could be three or four trillion dollars a year and the money printing will be off the charts.”

As far as coronavirus, Peter echoed what he said on RT Boom Bust last week: markets have bigger things to worry about. He told Fox Business gold was rallying before the outbreak and that it is “not why” the price is going up now, even though metals are considered a safe-haven buy.

Peter said even though the Fed has paused rate cuts, for the time being, he thinks the central bank will ultimately cut all the way back to zero and the Fed’s balance sheet will “explode to a much higher than the four-and-a-half trillion that they tapered from.

And a Sanders presidency would do nothing but exacerbate this and speed up the dollar’s demise.

There’s no way the dollar’s reserve status will survive a Sanders presidency. America is going to be a much, much poorer nation. Our standard of living is going to implode, but the money printing is going to be crazy.”

By Zerohedge.com

More Top Reads From Safehaven.com:

Back to homepage

Leave a comment

Leave a comment